Astar Foundation burning proposal of 5% of Astar genesis allocation

Governance Offchain Discussions
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Weekly Summary: Astar Foundation Burning Proposal

General Sentiment:

  • Positive: The Astar community generally supports the proposal to burn 350 million ASTR tokens from the genesis allocation; most replies support this initiative as they see it as a beneficial move to reduce supply and increase token value.
  • Support for Burning: Many members agree that burning the tokens will have a positive deflationary impact and boost the attractiveness of staking rewards.

Proposed Options and Suggestions:

  1. Immediate Burn: most support the idea for an immediate burn to maximize marketing impact and simplify execution.

  2. Staggered Burn: some members suggest burning in batches to monitor and adapt to market conditions. This method offers more control and potential for gradual positive market effects.

  3. Alternative Uses for ASTR, reward allocation:

  • Unstoppable Grants: Allocating tokens to the Unstoppable Grants program to support promising dApps and projects.
  • Treasury Allocation: fund long-term initiatives and Agile Coretime expenses.
  • Airdrop to Holders: A proposal to distribute a portion of the tokens to active ASTR holders as a reward.

Concerns and Additional Discussions:

  • Agile Coretime Costs: Uncertainty about future costs associated with Agile Coretime.
  • Economic Impact: Questions about potential negative impacts or disadvantages of the burn.
  • Marketing and Engagement: Emphasis on the marketing benefits of a significant burn and potential engagement strategies for sustaining community interest.

Next Steps:

  1. Open Discussion (2 more weeks): Continued community feedback and suggestions for another 2 weeks.
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